Länsförsäkringar Hypotek: Year-end report 2011
”Länsförsäkringar is strengthening its position as Sweden’s fifth largest mortgage institution and has Sweden’s most satisfied retail mortgage customers for the seventh consecutive year. It shows that the strategy with local presence and proximity to customers, who ultimately are the owners, is successful. We provide retail mortgage lending in the most simple and personal way as possible to make the process clear and secure for customers. Loans are increasing according to plan and have maintained high credit quality. Liquidity is highly favourable and we are well-prepared in an economic climate that remains uncertain,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The year in brief
- Loans rose 11% to SEK 89 billion (80).
- Operating profit rose 25% to SEK 189 M (152) and return on equity was 3.6% (3.5).
- Net interest income rose 25% to SEK 506 M (406).
- Recoveries exceeded loan losses and amounted to SEK 4 M (3), net.
- The Tier 1 ratio according to Basel II was 20.6% (19.7) and the capital adequacy ratio was 22.8% (22.3).
- Länsförsäkringar had Sweden’s most satisfied retail mortgage customers according to the 2011 Swedish Quality Index.
- The number of customers rose 8% to 161,000 (149,000).
Figures in parentheses pertain to 2010.
The full report is available attached.
For further information please contact:
Anders Borgcrantz, President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 51, +46 (0)73-964 12 51
Martin Rydin, Vice Executive President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 79, +46 (0)73-964 12 79
Anna-Lena Löfvenberg, Investor Relations Manager, Länsförsäkringar
Bank AB, +46 (0)8-588 415 16, +46 (0)73-964 15 16
Christer Baldhagen, Senior Vice President Corporate Communications,
+46 (0)8-588 415 01, +46 (0)70-579 70 66
The Länsförsäkringar Alliance comprises 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring and total solutions for reliable mortgage transactions are offered through Länsförsäkringar Fastighetsförmedling.
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